Form No. 1 Basic or Standard Homeowners Insurance (HO-1)

Published: | Updated: January 7, 2018

Definition - What does Form No. 1 Basic or Standard Homeowners Insurance (HO-1) mean?

Form No. 1 (HO-1) refers to the most basic homeowners insurance policy. It covers damage to the house and property inside from 10 named perils. Most states no longer offer this type of insurance due to its limited coverage.

Insuranceopedia explains Form No. 1 Basic or Standard Homeowners Insurance (HO-1)

HO-1 provides coverage against the follow 10 perils:

  • Fire and lightning
  • Explosion
  • Smoke
  • Windstorms and hail
  • Volcanic eruptions
  • Riots and civil commotion
  • Vandalism and malicious mischief
  • Vehicles, unless the insured causes it
  • Aircraft
  • Theft, usually limited to only $1,000

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